Market Statistics
| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 8.7 Billion |
| 2030 Forecast | USD 21.32 Billion |
| Growth Rate (CAGR) | 16.1% |
| Largest Region | North America |
| Fastest Growing Region | Asia-Pacific |
| Nature of the Market | Fragmented |
Healthcare Technology Management Market Size
Market Size Comparison
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Healthcare Technology Management Market Future Prospect
The healthcare technology management market size stood at USD 8.7 billion in 2024, and it is expected to grow at a CAGR of 16.1% between 2024 and 2030, to reach USD 21.32 billion by 2030. The growth can be primarily attributed to the rising adoption of cloud technology and associated human-computer interaction (HCI) services, the increasing demand for telehealth and mHealth solutions, the surging implementation of numerous healthcare reforms such as the Patient Protection and Affordable Care Act (PPACA), the growing aging population, and the rising number of chronic diseases.
Furthermore, hospitals, clinics, and other healthcare facilities use information systems, which are developed, designed, created, and maintained by healthcare information technology. Also, healthcare technology management is offering several benefits and prospects for enhancing and transforming healthcare, including improved clinical results, lower human error rates, increased practice efficiency, simplified care coordination, and collection of data over time.
In addition to that, countries such as Japan, France, Spain, and the U.S. have significantly gained a solid foothold in healthcare research, while the U.K. is concentrating on enhancing R&D and exporting technology to other nations.
Healthcare Technology Management Market Trends & Drivers
- The introduction of big data solutions in healthcare settings is one of the key trends currently being witnessed in the market. Due to rapid digitalization, advanced technology is transforming medical data collection, storage, diagnostic techniques, treatment planning, surgical processes, remote patient monitoring, and consultations.
- In the upcoming years, it is projected that the amount of health and medical data would grow tremendously. Big data and analytics are used by MedTech startups to evaluate the enormous amounts of unstructured medical data. It also enhances patient-based services, recognizes disorders at early stages, and produces recent understandings of diseases mechanism.
- Moreover, big data solutions make it possible to monitor the effectiveness of treatment procedures as well as the quality of processes at healthcare facilities. This is subsequently fueling the development and surging the demand for healthcare technology management.
- The increasing demand for healthcare solutions is boosting the market for healthcare technology management. The demand is rising due to the increasing adoption of electronic health records and various other hospital information systems by healthcare providers, the surging need for high-quality healthcare services, the growing adoption of mobile health and telehealth practices, and the mounting demand for better patient safety and patient care.
- Moreover, there is a growing emphasis on preventative medical equipment maintenance. This has grown due to the enhancement of patient safety and care quality by healthcare institutions, and it is comprised of a carefully designed program where maintenance tasks are carried out in a scheduled manner to dodge larger and more expensive repairs down the line. Also, it offers a lowered equipment downtime, which strengthens day-to-day operations and improves device reliability.
Geographical Outlook
Europe had a significant share in the global healthcare technology management industry, with a revenue share of around 30%, in 2022, owing to the high research and development investments, the rapid adoption of technologically advanced solutions, and the presence of global players and their efforts to come up with newer patents. Also, the European market is expected to generate profitable growth opportunities, due to the existence of developed healthcare infrastructure facilities in countries such as Germany and the U.K.
On the other hand, the Asia-Pacific market is projected to witness the fastest growth during the forecast period. This growth can be mainly attributed to the surging economies and government initiatives for digitalizing and automating tasks of healthcare facilities and healthcare-related organizations. In addition to that, rapid urbanization, increasing disposable income of consumers, busy and frantic lifestyles, rising penetration of the internet, and growing adoption of smartphones are some other factors fueling the demand for healthcare technology management in the region.
Report Breakdown
Based on End User
- Healthcare Providers
- Hospitals
- Pharmacies
- Diagnostic and imaging centers
- Ambulatory clinical units
- Healthcare Payers
Based on Delivery Mode
- On-Premises
- Cloud-Based
Based on Component
- Services
- Software
- Hardware
Geographical Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
- U.A.E.
Top Healthcare Technology Management Companies
- Siemens Healthineers
- Allscripts Healthcare Solutions Inc.
- General Electric Company
- Oracle Corporation
- Koninklijke Philips N.V.
- Renovo Solutions
- Epic Systems Corporation
- Agfa-Gevaert Group
- Greenway Health LLC
- BigHealth
Frequently Asked Questions About This Report
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